| Cuomo Targets Fire Back
Voices of defiance have been few and far between as the student loan inquiry rumbled through higher education in recent months. But as the annual meeting of the National Association of College and University Business Officers came to a close Tuesday, a "town hall meeting" on student loans showcased the stories of two institutions that fought New York Attorney General Andrew M. Cuomo — one that ultimately folded, and another that is still fighting, at least rhetorically. .
Bucking the Tide on Private Loans
As the scandals and debates over private lending have grown in recent months, conventional wisdom has held that private loans are a necessary evil. Sure, students and their families are taking on debt that is typically more expensive and more risky than federally backed loans. But as long as families feel that college costs are otherwise beyond their reach, private loans will continue to become more popular. .
Bowdoin to replace all loans with grants
College graduation is often associated with freedom. But with tuition costs at an all-time high, Bowdoin graduates often find themselves shackled by student loan debt years after receiving their degrees. No more. The College announced last week that it will replace all its loans with permanent grants beginning in the fall in an attempt to ease the amount of money students owe when they graduate. "The student loan burden that we have imposed on studentsthat has grown over the last 10 yearsis at a level that makes it very difficult for students at the College while they're here," said President Barry Mills in an online video released with the announcement. "It makes it very difficult for them as they think about their career options for the future." Tuition and fees totaled $46,260 this yearalmost $20,000 more than they did a decade ago.
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